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Logistics-OSCAR
Analysis of service charges and operating costs for logistics properties Germany | Published in May 2018
OSCAR – Analysis of service charges and operating costs for logistics properties | May 2018 2
For the third time, our Logistics-OSCAR report analyses service charges for warehouses and distribution centres. The observation, analysis and management of service charges are integral parts of professional property manage-ment. Our Logistics-OSCAR 2018 is intended to support project developers, owners and tenants by providing indi-cators for the evaluation of the cost situation in the deve-lopment and use of logistics properties. As in the fi rst two editions, the current Logistics-OSCAR report is the result of co-operation between JLL and Neumann & Partner – CREIS Real Estate Solutions.
In addition to the analysis of the individual service charge categories, the current analysis includes key data diff eren-tiated in terms of criteria such as building size and age.
In the second section of the report we provide an analysis of total costs relating exclusively to owner-occupied pro-perties, in order to give owner-occupiers the opportunity to compare their cost situation with our benchmark analysis.
The cost data analysed as part of our Logistics-OSCAR re-fers to costs incurred in the reconciliation year 2016. Even if this period predates the publication of the report, the analysis still provides authoritative information regarding the level of costs across the individual categories. Similar analyses such as the Off ice-OSCAR show that there have been only marginal increases in costs over the last two years. A similar increase in costs can be assumed for the data presented in the Logistics-OSCAR.
All fi gures shown in Euros are exclusive of VAT and all area measurements are shown net.
The current Logistics-OSCAR also contains cost data from selected properties held by the following companies: • Fiege Logistik Stift ung & Co. KG• Gazeley Germany GmbH• Harpen Immobilien GmbH• Hines Immobilien GmbH• Ixocon Immobilien GmbH & Co. KG• Panattoni Europe• Prologis• RLI Investors GmbH• W&W Asset Management GmbH
Introduction
OSCAR – Analysis of service charges and operating costs for logistics properties | May 2018 5
Basis of the analysis
The Logistics-OSCAR analysis is based on the cost data for 276 logistics properties. The properties have a total area of 6.0 million sqm and are located across the whole of Germany. The scope of the random sample is therefore greater than that of previous analyses in terms of the number of properties and total area. The proportion of buildings in this year’s survey already analysed last year is 65%. Approximately 57% are typical warehouse proper-ties and 43% are distribution centres, which are generally characterised by a greater number of loading doors per sqm of warehouse space and a smaller building depth.
Sample
Number of buildings Total area in sqm
Service charge analysis
Warehouses 105 2,946,900
Distribution centres 62 1,203,200
Total cost analysis
Warehouses 52 962,000
Distribution centres 57 888,900
Total 276 6,001,000
The analysis comprises two sections. The cost data of lea-sed properties are included in the service charge analysis. This includes those costs which are in principle recovered from the tenant. In the case of owner-occupied properties, the report refers to the analysis of total costs. Compared to the service charges, the total costs include user-specifi c operating costs such as costs for cleaning and electricity for the warehouse areas, which, in the case of leased proper-ties, are typically instructed and paid for by the tenant. However, internal handling costs such as the equipment for processing goods are not included.
The properties included in the service charge analysis have an average area of almost 25,000 sqm and the average year of construction/renovation is 2006. The properties included in the total cost analysis have a somewhat smaller average area of 17,000 sqm and the average year of construction/re-novation is 2000.
Overview
SCHLESWIG-HOLSTEIN
HAMBURG
LOWER SAXONY
BREMEN
NORTHRHINE-WESTPHALIA
HESSE
RHINELAND-PALATINATE
BADEN-WURTTEMBERG
BAVARIA
SAARLAND
BERLIN
BRANDENBURG
MECKLENBURG-WESTERNPOMERANIA
SAXONY
SAXONY-ANHALT
THURINGIA
Type of logistics asset
Warehouse
Distribution centre
Frank Weber Head of Industrial Agency Germany Munichtel +49 (0) 89 290088 [email protected]
Ulrike Janssen Head of Property Management GermanyDüsseldorftel +49 211 13006 [email protected]
Copyright © JONES LANG LASALLE SE, 2018. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of Jones Lang LaSalle. It is based on material that we believe to be reliable. Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them.
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Contacts JLL
Matthias BarthauerNational Director, ResearchHamburg+49 (0) 40 350011 [email protected]
Günter NeumannNeumann & Partner – CREIS Real Estate SolutionsLangenort 51, D – 18147 Rostocktel +49-381-666 97 61fax +49-381-666 97 [email protected]
Contacts CREIS
Robert HorneburgNeumann & Partner – CREIS Real Estate SolutionsAlexanderstraße 9, D – 10178 Berlintel +49-30-54 99 75 15fax +49-30-54 99 75 [email protected]